Gold Price in United States

How gold is priced in the United States

The US is the home of the benchmark: the “gold price” quoted worldwide is in US dollars per troy ounce, so American buyers never deal with a currency conversion. Bullion — coins and bars — is priced as the live spot price plus a premium that covers minting, dealer margin, and demand. Jewelry is usually sold as a finished piece at a fixed price rather than by live per-gram weight, so there is no “making charge” culture the way there is in Asia or the Gulf.

For scrap or resale, though, weight and karat rule: a dealer weighs the item, multiplies by the per-gram value for its karat, and applies a buy-back margin.

Karats: why 14K dominates

Unlike India or the Gulf, American jewelry is mostly 14K (58.5% pure, stamped “585”), with 18K for finer pieces and 10K — the legal minimum that can be called gold in the US — for budget and heavy-wear items. The higher alloy content makes 14K hard-wearing and affordable, which is why most US wedding and engagement rings are 14K.

Hallmarking is not legally mandatory in the US, so pieces carry a maker’s karat stamp rather than a government assay mark; reputable jewelers stamp both the karat and their trademark.

Tax: it depends on your state

There is no nationwide VAT on gold. Instead, sales tax is set state by state, and the rules matter for investors: many states fully exempt investment-grade bullion (and sometimes coins above a purchase threshold), while others tax it. Jewelry is generally subject to normal sales tax. Because the rules differ so much, serious bullion buyers often factor their state’s treatment into where and how they buy.

Coins, bars and where Americans buy

The most recognized US products are the 22K American Gold Eagle and the 24K American Buffalo, both minted by the US Mint, alongside 24K bars from refiners like PAMP and Valcambi. Buyers use national bullion dealers, local coin shops, and pawnbrokers for scrap. Because everything is priced off the same dollar spot rate, the key thing to compare between sellers is the premium over spot, not the headline gold price.